Made-in-India iPhones' export set to cross Rs 1 lakh crore mark in FY25

Apple has started the fiscal year 2025 with a strong note as the iPhone exports from India surge. As per official data, the made-in-India iPhones export doubled in April, reaching $1.1 billion (Rs 9,000 crore) compared to $580 million a year ago.

The Economic Times quoted analysts and said that April typically witnesses subdued export activity globally due to the absence of major festive sales events.

Apple iPhones export

Amid this surge, experts expect the exports to breach Rs 1 lakh crore export milestone in FY25, solidifying India as its second-largest manufacturing hub for iPhones outside China. The Economic Times report further quoted experts and said 14%-15% of the production has already shifted from China to India. By 2026, experts believe the figure to climb to 26%.

In FY24, Apple's overall production in India soared to $14 billion (Rs 1.2 lakh crore), with exports surpassing $10 billion (Rs 85,000 crore). The retail prices are about 60% higher.

iPhones in domestic market

The domestic market is also experiencing a robust growth for Apple as it surges over 38% Year-on-Year despite a majority of the production is destined for exports. As Apple is looking to expand the local manufacturing operations, Apple is actively pursuing a double-digit smartphone market share in India, aiming to elevate it from around 7% in FY24.

The Apple ecosystem has also generated over 150,000 new jobs since the PLI scheme's launch in the past three years.

Meanwhile, Taiwan-based Foxconn which is the world's largest contract manufacturer emerged as a the primary exporter of India-made iPhones, accounting for over 70% of shipments, followed by Wistron (27%), with Pegatron contributing the remainder.

Also Watch: Apple to ramp up production in India, set to hire 5 lakh employees in next 3 years